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The dollar climbed with U.S. government bonds before President Donald Trump unveils his tax cut plan that could breathe new life into flagging reflation trades.

The greenback wrested back some strength in early business hours on the continent, gaining against most group-of-10 currencies. Treasuries reversed a five-day losing streak, signaling not all investors are getting behind the risk rally. West Texas Intermediate crude languished below $50 a barrel after a report on U.S. supplies. European stocks halted a five-day advance that had taken them to the highest since 2015 as earnings painted a mixed picture on growth.

Investors are waiting to see if Trumpâ€™s conciliatory tone on the border wall could help avert a government shutdown even as most members of the Congress are in the dark about the $1.1 trillion spending bill. Policy reviews by the Japanese and European Central Bank may also set the tone for rest of the week.

"Markets will take a breather today before embarking on a frantic end to the week with a flurry of central bank meetings," economists at Societe Generale SA led by Michala Marcussen wrote in a client note. "In the U.S., we see the risk of a government shutdown as low but also remain skepticalâ€ť that a â€śbudget bill that funds the government only for an additional five months will bringâ€ť much relief.

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Here are some key upcoming events that investors are watching:

Alphabet Inc., Microsoft Corp., Amazon.com Inc., Twitter Inc., Intel Corp., Barclays Plc, Bayer AG and Total SA are among major companies releasing results this week.
The Bank of Japan is widely expected to keep the settings on its monetary easing program unchanged at the end of a two-day policy meeting on Thursday. Though inflation remains well below the central bankâ€™s 2 percent target, itâ€™s ticking up.
The ECB sets monetary policy later that same day. With officials indicating little chance of a policy change, the focus will be on any signals from President Mario Draghi that the central bank is debating an exit from its extraordinary stimulus.
U.S. GDP is due at the end of the week. Itâ€™s projected to show the economy expanded at a 1.0 percent annualized rate in the first quarter, the weakest pace in a year.
Here are the main moves in markets:

Currencies

The Bloomberg Dollar Spot Index increased 0.2 percent as of 7 a.m. in New York, climbing for a second day after a 0.5 percent drop on Monday.
The yen was little changed at 111.15 per dollar, after dropping 1.2 percent on Tuesday.
The euro lost 0.4 percent to $1.0887, after four straight days of gains.
The ruble weakened 0.7 percent after President Vladimir Putin said the government is looking for â€śmarket-based measuresâ€ť to stabilize the currency.
Stocks

The Stoxx Europe 600 Index rose 0.1 percent, after a five-day rally to the highest since August 2015.
Japanâ€™s Topix index rose 1.2 percent, climbing for a fifth straight day for the longest winning streak this year.
Futures on the S&P 500 Index were flat after the underlying gauge climbed 0.6 percent on Tuesday, to within 10 points of its closing record.
Commodities

The yield on 10-year Treasuries fell one basis point to 2.32 percent, after climbing for five straight sessions.
German government debt with a similar maturity saw yields fell one basis point to 0.37 percent.